Collapse at Key Codelco Copper Mine Clouds Production Prospects

A major collapse at a key new section of Codelco’s biggest mine is raising questions about the Chilean behemoth’s ability to meet production goals at a time of growing demand for the metal.

Days after celebrating the US government’s decision to spare its copper from hefty tariffs, Codelco is now reeling from a fatal accident at its El Teniente mine. First, it’s grappling with a human tragedy — one confirmed death, nine people injured and five others the subject of a rescue effort deep underground. The scenes in the Andes mountains south of Santiago are invoking comparisons with the rescue of 33 trapped miners in the Latin American nation 15 years ago. President Gabriel Boric traveled to the area Monday.